TVS, Ather And Hero Suffer Huge Sales Decline In April 2024

Electric two-wheeler sales took a major dip in the month of April 2024. Three of the major EV players registered more than 70% sales drop when compared to their performance from March 2024. TVS recorded a 71.04% dip, Ather 76.43% and Hero suffered 76.69% lower sales. And the reasons are pretty simple: lesser subsidies and heavy discounts offered in March.

With the FAME-II subsidies going away from April 1, 2024; electric two-wheelers have become quite a bit more expensive. Plus, the new EMPS scheme is not offering as much of a benefit to buyers. Hence, the initial upfront cost for an electric scooter is nearly twice that of an equivalent ICE scooter. 

Plus, in order to lure customers pre-FAME-II end, brands were offering the e-scooters with lucrative discounts. Hence, buyers found it all the more attractive to purchase an iQube, a 450X or a Vida V1 then. 

And it isn’t just these three who have faced the heat, even Ola, Bajaj, and Ampere have suffered. However, their sales performance hasn’t been that affected when compared to the rest. 

With the introduction of a low-cost iQube at 94,999, TVS has played its hand, hoping that it will bring in more buyers to the brand. While it also announced that the deliveries of the ST trim have commenced, we aren’t quite sure how many takers would be willing to pay that much moolah for it. Want to know how much the ST trim costs? Check out this story.